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Chancellor of the Exchequer Jeremy Hunt leaves 11 Downing Street, London, with his ministerial box before delivering his Budget at the Houses of Parliament, on March 16, 2023
YEARS of weak public investment represent an “institutional failure of the British state” which has undermined economic growth and key services, a leading think tank said today.
The Resolution Foundation demanded a change in fiscal rules determining government spending and tax decisions and also suggested that the Treasury be stripped of its powers to decide on public investment.
In its latest report, Cutting the Cuts, the foundation revealed that low levels of public investment have consistently placed Britain among the weakest third of the 38 so-called “advanced economies” in the Organisation for Economic Co-operation and Development (OECD).
MATT WRACK issues a clarion call for a rejuvenation of public services for the sake of our communities and our young people
Under current policy, welfare cuts are just a small downpayment on future austerity, argues MICHAEL BURKE
Exempting military expenditure from austerity while slashing welfare represents a fundamental misallocation of resources that guarantees continued decline, argues MICHAEL BURKE